Hoban Group Acquires LS Stake… Link to Taihan-LS Cable Patent Lawsuit?

Hoban Group has acquired a partial stake in LS, drawing industry attention as this decision comes amid an ongoing patent infringement lawsuit between Taihan Cable & Solution and LS Cable & System.

According to the construction industry on the 12th, Hoban Group recently purchased a minority stake of less than 3% in LS. However, the exact timing and specific purpose of the acquisition have not been disclosed.

Industry insiders speculate that Hoban Group's stake acquisition may be related to the patent infringement lawsuit between Taihan Cable & Solution and LS Cable & System.

Some analysts suggest that by securing shares in LS, the parent company of LS Cable & System, Taihan Cable & Solution may be strategically positioning itself advantageously in the legal battle with LS Cable & System.

However, Hoban Group has dismissed such interpretations, stating that the acquisition was purely for investment purposes. A representative from Hoban Group commented, "We invested based on future growth potential, and it has nothing to do with the patent lawsuit."

The patent dispute between LS Cable & System and Taihan Cable & Solution began in August 2019 when LS Cable & System filed a lawsuit against Taihan Cable & Solution.

LS Cable & System claimed that the bus duct joint kit produced by Taihan Cable & Solution infringed on its patent, and in September 2022, the first-instance court ruled partially in favor of LS Cable & System.

Both parties have since appealed the ruling, and the appellate court is scheduled to deliver its decision on the 13th at the Patent Court.

Meanwhile, police are investigating allegations that LS Cable & System’s subsea cable plant design expertise was leaked to Taihan Cable & Solution.

Authorities have charged officials from Taihan Cable & Solution and Gaon Architects with violations of the Unfair Competition Prevention Act and have conducted three raids on Taihan Cable & Solution’s headquarters.

LS Cable & System developed high-voltage subsea cables in 2007 and established the nation’s first dedicated subsea cable plant in 2009. Gaon Architects, which is suspected of being involved in the technology leak, was responsible for LS Cable & System's subsea cable plant design from 2008 to 2023 and later took charge of designing Taihan Cable & Solution’s Dangjin plant.

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